POWERED BY MOMENTUM MEDIA
ESSSuper expands investment menu
ESSSuper has expanded its investment menu for members, unveiling a new Balanced Growth Managed investment option.
The option, made available from 23 July 2024, is open to all members with an accumulation plan, beneficiary account, or income stream.
It includes a range of higher-risk, higher-return asset types along with a range of lower-risk defensive assets to support stability.
Around 71 per cent of the option targets growth assets and 29 per cent targets defensive assets.
Unpacking these allocations, the $36 billion fund indicated around a quarter (31.5 per cent) is in international shares while 26 per cent is in Australian shares.
Meanwhile, 8.5 per cent is allocated to credit, 8 per cent to cash, 8 per cent to infrastructure, and 6.5 per cent to property.
Additionally, 5.5 per cent is earmarked for alternative growth and 6 per cent is allocated to defensive fixed income.
The Balanced Growth Managed option will be actively managed, ESSSuper said, which “allows us to make strategic adjustments and timely responses to market changes”.
In the last financial year, ESSSuper’s default Balanced option delivered a return of 7.12 per cent.
The fund’s Growth option and Balanced Growth option delivered 9.92 per cent and 11.08 per cent, respectively.
Last month, ESSSuper also announced it is set to welcome new additions to its executive leadership team in the new financial year.
Its new chief financial officer Therese Kenny makes the move from commercial real estate investment manager MaxCap and will join in August.
Meanwhile, Stuart Wilkinson will join as its first chief member officer in October.
AUTHOR
Rhea Nath
Rhea L Nath is a journalist on Super Review and InvestorDaily, with a focus on funds management, superannuation, and institutional investment. Previously, she covered small business and entrepreneurship news at Dynamic Business and multicultural issues at Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.
Recommended for you
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
Qantas Super has officially merged with ART over the weekend, with its CEO describing the “bittersweet” decision as being in the best financial interests of its members.
The super sector has apologised and vowed to fix widespread delays, poor service, and systemic failures in processing death benefit claims, following an ASIC review.
Long-term investors face a critical decision – stay the course or pivot, says leading economist Shane Oliver.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
